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Germany has huge numbers of banks compared to other countries and so the system is inefficient. In addition the low interest rates mean banks find it hard to ma
by xioxox 7y ago
Germany has huge numbers of banks compared to other countries and so the system is inefficient. In addition the low interest rates mean banks find it hard to make money. My previously free German account now costs some money.
- zAy0LfpBZLC8mAC 7y ago> Germany has huge numbers of banks compared to other countries and so the system is inefficient. That's not really true. While there is a huge number of banks, most of them are either co-op banks (Raiffeisen- and Volksbanken) or Sparkassen, and while they are all separate legal entities, all the banks from either of those groups run on their respective common infrastructure (Ficudia & GAD IT and Finanz Informatik).